My application is currently in underwriting. I am concerned that because my student loans are so high that my DTI may not pass. I have found a home that is scheduled to close on 11/19/2024. Honestly I did not see you site until after applying thru my current lender. Would you be able to take over the case and will I still be able to close on November 19th, 2024 or earlier? I am in Illinois and also seeking downpayment assistance if possible. The Home Inspection and Appraisal have all been completed. My student loans total 186k and I am currently in deferment, but the lender is saying that the payments are coming up to 0.50% of the outstanding student loan balance per month…but I am paying $0.00. My credit score middle is 643. Also I am currently employed but will start a new job in a week making more money. Can you help? What steps will I need to take.Renting a home for two years owner decided to sale to me via notice to vacate. I have bad credit, owe taxes and zero for a down payment. What are my options in Michigan

How Do You Calculate the Debt-Service Coverage Ratio (DSCR)?

What are the closing costs associated with FHA DPA loans?

What are the benefits of FHA high-balance jumbo loans?

What is the difference between secured and unsecured credit cards?

What factors should a church consider before taking a loan?

• This discussion was modified 3 months, 4 weeks ago by  Sapna Sharma.

What are the risks associated with No-Ratio DSCR Loans?

I built my last start up 14 years ago and I am rusty. I am building credit for a new startup now. Company was formed 4 years ago and was in hybernation. I am making it come alive and start operations now. My questions

Traditional Business Credit building suggests to start with Net 30 accounts. Right now I have 3 charge accounts that are going to start reporting. I possibly can get 2 more charge accounts.

Should I go back and try to get 2 or 3 net 30 accounts or should I just pass the stage of net 30 accounts and move on?

How many tradelines need to be reporting and how many months before we start seeing the scores and paydex calculated and reported?

I am an Experienced Mortgage Loan Originator. How Can You Approach a Home Builder and Become The Builder’s Preferred Lender. Why do home builders want to use you as their preferred lender? How do you become a Preferred Lender of a Home Builder? What do home builders want of a preferred lender. The bottom line is How Do You Become a Preferred Lender For a Home Builder? What can I do to get an opportunity to become a preferred lender for a regional or national home builder?

We live in NC and filed a Chapter 7 bankruptcy on our personal side and a Chapter 11 Bankruptcy on the business side after COVID closed our business. Both my husband and I had upper 700’s for credit before before filing Chapter 7 and Chapter 11 Bankruptcy. Bankruptcy was confirmed in Feb ’21 and final decree was just issued on 11/12/21. We have a home mortgage and HELOC as well as our SBA loan debt repayment that we’d like to roll into one mortgage with a refi. The SBA loan repayment will be repaid by end of 2022 but there is no penalty to repay early if we could refinance. Are we just out of luck with a refi and have to wait 2 years or is there any option to do a refinance now with a decent rate?

I am new to the commercial loan origination industry. My wholesale commercial lenders are asking to prepare personal financial statement of each commercial loan applicant. How do you complete a complete financial statement?

• This discussion was modified 4 months, 3 weeks ago by  Bailey.

Police corruption is out of control. There are more arrests and convictions based on percentage versus the entire civilian population. The hiring process needs to get more strict recruiting police officer recruitment. Anyone with a high school diploma, GED, or two year junior college degree in law enforcement or 60 college semester hours can become a police officer. Here’s a video of Oklahoma police chief Carl Stout, the most Corrupt Police DEPARTMENT under the leadership of Chief Carl Stout.

https://youtu.be/9IGCyzLQR1U?si=5CjUfe_xnMZnGK2N

How To Raise Credit Score To Qualify For Mortgage?

How Do I Qualify For $0 Money Down USDA LOANS?

HOW DO MORTGAGE LENDERS VIEW OUTSTANDING COLLECTIONS AND CHARGE OFFS?

What are closing costs on a home purchase. What does closing costs cover? Is there closing costs on both purchase and refinance mortgage loans? Who pays for closing costs? Do all mortgage lenders charge the same amount of closing costs? How can you not pay for closing costs on a home purchase? What is seller concession and lender credit and how can you pay for closing costs with seller concessions and/or lender credit? How much are closing costs?

Do you know any banks that offer 10% down on second mortgages or 90% CLTV or HELOC with a 700 credit score or better with income of over 70,000 yearly?

First-time homebuyers and loan officers. Have you hear of EPM DOWN-PAYMENT ASSISTANCE PROGRAM? Equity Prime Mortgage has a forgiveable down-payment assistance program on FHA loans where the down payment of 3.5% is covered as a second mortgage but it is forgiveable after six months. What does forgiveable mean on DPA programs? Forgiveable means that after a certain period of time, if you sell the house or you refinance out of the FHA EPM DPA loan, you do not have to pay the DPA loan of the 3.5% back. The maximum debt-to-income ratio is 48.99% front-end and 48.99% back-end. The EPM DOWN-PAYMENT ASSISTANCE PROGRAM is borrower paid transaction. Therefore, you need to get a 6% seller concession for you to get into a house with no money down and with no closing costs or little closing costs. In most cases, there is no down payment or closing costs. The EPM DPA Mortgage Program is availble on FHA loans in standard areas and high-cost counties like many counties in California. Here is an article I wrote about the EPM Down Payment Program. People that qualify are first-time homebuyers, homebuyers who are first-responders, teachers, veterans, and professionals in the medical field, and homebuyers who earn a certain amount of income based on their county:

https://gustancho.com/down-payment-assistance-mortgage/

gustancho.com

EPM Empowered Down Payment Assistance Mortgage Program

There are recoverable and non-recoverable Down Payment Assistance Mortgage for Homebuyers is offered at Gustan Cho Associates

Where/who can I turn to for flexible/lenient mortgage financing?

What do we need when refinancing our home that is currently on a land contract?

How do you get a bankruptcy trustee approval to get approved for a mortgage during the Chapter 13 Bankruptcy. What is involved in getting a court trustee’s written approval letter for Chapter 13?

What is credit supplement for? When does a mortgage client need to do a credit supplement during the mortgage loan process?

What is height at which a outside deck needs a railing?

WHAT IF I LOST MY JOB AFTER I JUST BOUGHT A HOME?

What is the timeline from pre-approval to clear to close?

What is the credit score that I need for Conventional loan?

What Is Minimum Mortgage Loan Size For NON-QM Loans?

WHAT DOES APPROVE ELIGIBLE PER DU FINDINGS MEANS?

WHAT ARE HARD MONEY LOANS AND PRIVATE MONEY LOANS?

• This discussion was modified 5 months ago by  Gustan Cho.

Ever since I remember, Florida was the top favorite preferred state to relocate. Retired Americans moved to Florida to live their final days and die there. Is that still the case?

https://youtu.be/heeyfsnW9_k?si=yp74q9MnZcDZFiGg